Foreigners also hold large partial ownership of key public U.S. companies like Morgan Stanley.

Foreign presence in American real estate is particularly strong - the Chrysler Building, for example, is 90 percent owned by the Abu Dhabi Investment Council.

Perhaps the most intrusive form of foreign financial control is the long-term leasing of American infrastructure.

Chicago's parking meters, the Chicago Skyway, and the Indiana Toll Road are all currently controlled by foreigners. The Pennsylvania Turnpike and Chicago Midway Airport were put up for foreign lease, but the plans fell through for various reasons.

America, to put it simply, is mortgaging itself and its future to fuel its unbridled spending habits in the present.

At some point, when the American economy has weakened enough, foreigners will no longer be willing to lend so freely. When that happens, the American living standard will drop substantially and its chances of regaining its economic greatness will be shackled by foreign debt and foreign ownership.